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BusinessLive reports that trade union Solidarity lodged court papers on Thursday requesting that South African Airways (SAA) be placed in business rescue. The Companies Act allows trade unions to bring such an application.
Solidarity said it was acting on behalf of its members within the SAA group, but also on behalf of its members in public enterprises in all sectors and on behalf of every South African who paid tax. “The crisis in SAA not only threatens the jobs of SAA employees, it threatens all workers and taxpayers. Solidarity’s members are also ordinary workers who pay a portion of their hard-earned money as taxes. We also act on behalf of the approximately 500,000 members of the Solidarity Movement who faithfully pay their taxes. They cannot allow their tax money to be constantly misused to subsidise struggling, ineffective state enterprises,” Solidarity’s COO Dirk Hermann stated. Solidarity had previously planned to bring such an application, but was encouraged by former SAA CEO Vuyani Jarana and the department of public enterprises not to do so. Indicating that SAA was heading for liquidation which would have huge consequences for employees, Hermann said a business rescue application was the only remaining option to limit the damage. “Recent events at SAA accelerated the crisis. SAA’s day zero is imminent. The current shareholder has lost control over finding a solution for SAA,” he said.
- Read the full original of the report in the above regard by Carol Paton at BusinessLive
- Read too, Solidarity says SAA nearing 'total collapse', wants it placed in business rescue, at Fin24
Get other news reports at the SA Labour News home page